Salesforce has announced a multi-billion dollar deal to buy big data company Tableau Software.
The $15.3 billion all-stock purchase appears to be Salesforce’s biggest acquisition ever, at a premium of 42 per cent, or $177.88 per share.
The deal is expected to be completed by the end of the third quarter.
Tableau will continue to operate independently, with Adam Selipsky remaining in the CEO position. Headquarted in Seattle, Tableau has 86,000 business customers worldwide, including Charles Schwab, Verizon, Schneider Electric and Netflix.
Salesforce now expects its 2020 adjusted profit to be in the range of anywhere between $2.51 and $2.53 per share. Tableau’s shares rose 35 per cent after the deal was announced, hitting $169.50.
Salesforce’s shares, on the other hand, fell five per cent, to $156.43.
Market consolidation seems to be continuing, as this announcement came mere days after Google announced the acquisition of Looker for $2.6billion.
Google said the acquisition would strengthen its data game, and give customers a more consistent way to define business metrics, with the company planning on adding Looker's services to its Google Cloud portfolio.
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